Two-Building Flex
New
For Sale
$499,900
207 Bell St, Lansing, MI 48906
Two leased suites operate under NNN-style terms, with tenants covering direct utilities and routine property responsibilities.
Property Size5,640 SF
Price / SF$88.63
Days on Market6
Property Features for 207 Bell St
General Information
Standard status
Active
Size
5,640 SF
Class
B
Property subtype
Investment
Zoning
IND-1
Occupancy
100%
Site & Location
Neighborhood
Turner-Dodge Neighborhood Organization
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Tenant in Place
Yes
Property Use
Industrial
Building Details
Building Size
5,640 SF
Year Built
1963
Buildings
2
Tenancy
Multi
Listing Agency:
RE/MAX COMMERCIAL GROUP
Listed By:
Matthew Wisniewski · License #6501360426
(517) 321-2800
Source:
Cpix.resimplifi
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 26 at 12:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX COMMERCIAL GROUP
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Investment Insights
Based on property information with market context.
This flex property comprises two industrial buildings totaling 5,640 rentable square feet. Suite A contains 4,440 square feet, and Suite B contains 1,200 square feet. Built in 1963, the site is zoned IND-1 and includes warehouse storage, overhead drive-in doors, power infrastructure, and updated office and living-quarter areas.
The gated, fenced property at 207 Bell St in Lansing includes yard space and truck and loading access. Both suites are leased to tenants under NNN-style terms. Tenants cover direct utility use, trash, snow removal, lawn care, janitorial service, and routine repairs and maintenance. Tax and insurance reimbursements recover 73.6% of operating expenses.
The gated, fenced property at 207 Bell St in Lansing includes yard space and truck and loading access. Both suites are leased to tenants under NNN-style terms. Tenants cover direct utility use, trash, snow removal, lawn care, janitorial service, and routine repairs and maintenance. Tax and insurance reimbursements recover 73.6% of operating expenses.
Key Highlights
- Two industrial buildings with 5,640 rentable square feet total
- Suite A: 4,440 SF; Suite B: 1,200 SF
- IND‑1 zoning; built in 1963
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,512
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,240
$910.2K
Cap Rate 7%
$650,171
$650.2K
Cap Rate 9%
$505,689
$505.7K
Market Conditions
NOI Build-Up for 5,640 SF
Gross rent
$59.6K $10.56/SF
− Vacancy
−$6.0K −$1.07/SF
EGI
$53.5K $9.49/SF
− OpEx
−$8.0K −$1.42/SF
NOI
$45.5K $8.07/SF
Area
Lansing, MI
Vacancy
10.10%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,240
Cap Rate 7%
$650,171
Cap Rate 9%
$505,689
Alternative Uses
Best Use
Warehouse
$650.2K
$568.9K – $758.5K
NOI $45,512 @ 7.0% cap · market cap 9.10%
Second Best
Flex RnD
$622.2K
$544.4K – $725.9K
NOI $43,552 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,266 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48906, MI
25,674
Population
12,180
Households
2.1
Avg Household Size
37
Median Age
29%
College-Educated
91%
High-School Grad
32.5 sq mi
ZIP Area
790
Density / Sq Mi
$61,533
Median Household Income
$38,551
Median Earnings
$1,033
Median Rent
$128,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Lansing catering LLC — 3212 N East St, Lansing, MI 48906
Frequently Asked Questions
What type of property is this?
Flex space - Two leased suites operate under NNN-style terms, with tenants covering direct utilities and routine property responsibilities.
Where is this flex space located?
The property is located at 207 Bell St Lansing, MI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two industrial buildings with 5,640 rentable square feet total; Suite A: 4,440 SF; Suite B: 1,200 SF; IND‑1 zoning; built in 1963
